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Written question asked by Callum Anderson (Labour) on Monday, 13 July 2026, in the House of Commons. It was due for an answer on Wednesday, 15 July 2026. It was answered by Torsten Bell (Labour) on Monday, 20 July 2026 on behalf of the Department for Work and Pensions.

Workplace Pensions

Question

To ask the Secretary of State for Work and Pensions, what estimate he has made of the proportion of defined contribution pension assets that will be managed by schemes with more than £25 billion in assets by 2030.

Answer

As set out in the Department for Work and Pensions’ November 2024 publication “Pension fund investment and the UK economy” the largest 5 and 10 defined contribution funds (either a Master Trust or GPP) in the UK held 55% and 74% of total DC assets respectively. The report can be found here: Pension fund investment and the UK economy.

The Pension Schemes Act scale provisions require defined contribution multi-employer schemes used for automatic enrolment to have scale of at least £25 billion of assets under management in one main scale default arrangement (MSDA) by 2030 or £10bn if approved for transition pathway relief with a credible plan to achieve scale of £25 billion by 2035. As shown in our Impact Assessment it is anticipated there will be approximately 15-20 multi-employer schemes after the scale reforms have taken place. We will continue to monitor the assets that will be managed by schemes as set out in our recently published Evaluation Strategy.

Secondary information

Type
Written question
Reference
18312
Session
2026-27
Subjects
Workplace pensions
Contains statistics
Yes
Link
View this Written question on www.parliament.uk